United Kingdom GDP Annual Growth Rate 1956-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 3 percent in the third quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.46 Percent from 1956 until 2014, reaching an all time high of 9.80 Percent in the first quarter of 1973 and a record low of -5.80 Percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

   
 
 

United Kingdom GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.00 3.20 9.80 -5.80 1956 - 2014 Percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Saturday, November 1, 2014.


UK Economy Advances 3% YoY in Q3


British GDP expanded 3 percent year-on-year in the third quarter of 2014 compared with a 3.2 percent increase in the previous three months. Yet, preliminary estimates showed the GDP is estimated to have been 3.4 percent higher than the pre-economic downturn peak of the first quarter of 2008.

Year-on-year, agriculture output increased by 0.9 percent. 

Industrial production increased by 2.2 percent driven by a 6.1 percent surge in electricity, gas, steam and air production. Mining contracted 1.8 percent, manufacturing advanced 3.4 percent and construction output increased by 3.0 percent. 

The services sector advanced 3.3 percent, driven by a 4.3 percent increase in business and financial activities and a 3.8 percent rise in distribution, hotels and restaurants. Transport, storage and communication output increased by 3.7 percent and government and other services output rose 1.3 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 0.7 percent in the three months to September, slowing from a 0.9 percent increase in the previous period. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
10/24/2014 10:03:47 AM


Recent Releases

UK Economy Advances 3.2% YoY in Q2
British GDP expanded 3.2 percent year-on-year in the second quarter of 2014, unrevised from the second estimate but up from a flash 3.1 percent. Gross fixed capital formation recorded the highest gain in more than eleven years. Published on 2014-09-30

UK GDP Growth Matches Estimates in Q2
The UK economy advanced 3.1 percent year-on-year in the second quarter of 2014, accelerating from a 3 percent expansion in the previous quarter, according to preliminary estimates. It is the highest growth rate since the last three months of 2007. Published on 2014-07-25


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-25 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q2 2014 3.1% 3.0% 3.1% 3.1%
2014-08-15 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q2 2014 3.2% 3.0% 3.1% 3.1%
2014-09-30 09:30 AM United Kingdom
GDP Growth Rate YoY Final
Q2 2014 3.2% 2.9% (R) 3.2% 3.2%
2014-10-24 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q3 2014 3% 3.2% 3% 3.39%
2014-11-26 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q3 2014 3.2% 3% 3%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.70 0.90 5.00 -2.70 Percent [+]
GDP Annual Growth Rate 3.00 3.20 9.80 -5.80 Percent [+]
GDP Constant Prices 428415.00 425437.00 428415.00 102335.00 GBP Million [+]
Gross National Product 438278.00 432153.00 438278.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 72529.00 71633.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]